Form Wh-432 - Employer'S Semi-Weekly Reconciliation Return Page 2
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2EMPLOYER’S SEMI-WEEKLY RECONCILIATION RETURN (Form WH-432)
For semi-weekly remitters only.
(Monthly and quarterly remitters should use Form WH-431.)
LINE BY LINE INSTRUCTIONS
Line 6
Please verify your name, address and Federal ID number and write
Enter the total amount of withholding tax credited to your
any corrections on this form.
withholding account. You will be contacted by the
Department if there is a discrepancy between Line 6 and
Line 1
Indicate the total number of employees working at your
our records.
business this quarter.
Line 7
If the correct amount of withholding tax is less than the
Line 2
Show all wages or payments subject to Vermont income
total withholding tax credited to your withholding account,
tax that were paid this quarter.
there is an overpayment.
WAGES are money paid to employees. See
Line 8
You may apply all or a portion of the overpayment to the
Withholding booklet for definition of employee.
next quarter’s withholding by entering the amount you wish
PAYMENTS are money paid to Vermont residents
to carry forward.
from which Federal tax is withheld such as pensions,
Line 9
The overpayment, less any amount applied to next
interest, dividends, insurance company payments,
quarter’s withholding, will be refunded to you.
gambling winnings, etc.
NOTE: Refunds cannot be issued if any returns are unfiled
Line 3
Enter the Vermont income tax withheld this quarter. If
or any tax liability is unpaid.
this line differs from the withholding tax remitted (Line 4),
this amount is the basis for adjustment to the quarter’s
Line 10 If the correct amount of withholding is greater than the
withholding liability.
total withholding tax credited to your withholding account,
that amount is due with this return. Interest, penalty and
Line 4
Enter the total withholding tax remitted this quarter.
late filing fees will be assessed by the Department based
Line 5
If you are using a previous overpayment to adjust this
on the date(s) payroll was paid.
quarter’s withholding, enter the amount here.
PAYMENT GUIDELINES
•
If your payroll is paid on Wednesday, Thursday, or Friday,
•
If your payroll is paid on Saturday, Sunday, Monday, or
your withholding payment is due the following Wednesday.
Tuesday, your withholding payment is due the following
Friday.
TO FILE YOUR RETURN
Due Date
Form WH-432 is due the 25th day of the month following the close of the calendar quarter.
Late Filing Fees Vouchers, EFTs and/or Returns filed after their due date may be subject to:
• A minimum penalty of $50.00 will be assessed if return is not filed within 60 days after due date, even if no tax
is due.
• Interest will be calculated in accordance with 32 V.S.A. §3108(a).
• Failure to pay penalty of 5% per month up to a maximum of 25% of the tax liability. 100% penalty in cases of
fraud.
Make checks payable to:
Vermont Department of Taxes
Mail the return and any payment due to:
Vermont Department of Taxes
PO Box 547
Montpelier, VT 05601-0547
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